Hardware wallet manufacturer Ledger has introduced a yield generation option for stablecoins stored on its devices, according to The Block.
The feature is implemented in the Ledger Live application in partnership with the DeFi platform Kiln. The option supports stablecoins USDC, USDT, USDS, and DAI.
Protocols Aave, Compound, Morpho, Sky, and Spark offer yields ranging from 5% to 9.9%.
Jean-François Rochet, Vice President of Ledger, noted that browser wallets are often insecure, while the new integration provides better protection. Additionally, users will benefit from an intuitive interface for selecting deposit amounts and protocols with desired yields, he added.
Ledger also emphasized that despite the high popularity of stablecoins, only 4% of holders earn profits.
Back in January 14, developers at Uniswap Labs entered into a partnership with Ledger, enabling hardware wallet owners to engage in “seamless and non-custodial” cryptocurrency exchanges on DEX.